BURLINGTON RESOURCES INC. EARNINGS (LOSS) PER SHARE EXHIBIT 11.1 (UNAUDITED) SECOND QUARTER 1996 1995 --------------------------- --------------------------- Earnings Shares Earnings Shares --------------------------- --------------------------- (Dollars in Millions, Except per Share Amounts) Primary earnings (loss) per common share Net earnings (loss) available for common stock and weighted average number of common shares outstanding $ 48 125,847,741 $ 2 126,564,350 Stock options assumed exercised - net - 442,959 - 492,207 ---------- ----------- ---------- ----------- Total net earnings (loss) and primary common shares $ 48 126,290,700 $ 2 127,056,557 ========== =========== ========== =========== Primary earnings (loss) per common share $ .38 $ .02 ========== ========== Fully diluted earnings (loss) per common share Net earnings (loss) available for common stock and weighted average number of common shares outstanding $ 48 125,847,741 $ 2 126,564,350 Stock options assumed exercised - net - 518,857 - 591,774 ---------- ----------- ---------- ----------- Total net earnings (loss) and fully diluted common shares $ 48 126,366,598 $ 2 127,156,124 ========== =========== ========== =========== Fully diluted earnings (loss) per common share $ .38 $ .02 ========== ========== SIX MONTHS --------------------------------------------------------- 1996 1995 --------------------------- --------------------------- Earnings Shares Loss Shares --------------------------- --------------------------- (Dollars in Millions, Except per Share Amounts) Primary earnings (loss) per common share Net earnings (loss) available for common stock and weighted average number of common shares outstanding $ 86 126,089,794 $ (3) 126,537,339 Stock options assumed exercised - net - 464,492 - 512,395 ---------- ----------- ---------- ----------- Total net earnings (loss) and primary common shares $ 86 126,554,286 $ (3) 127,049,734 ========== =========== ========== =========== Primary earnings (loss) per common share $ .68 $ (.02) ========== ========== Fully diluted earnings (loss) per common share Net earnings (loss) available for common stock and weighted average number of common shares outstanding $ 86 126,089,794 $ (3) 126,537,339 Stock options assumed exercised - net - 703,938 - 512,395 ---------- ----------- ---------- ----------- Total net earnings (loss) and fully diluted common shares $ 86 126,793,732 $ (3) 127,049,734 ========== =========== ========== =========== Fully diluted earnings (loss) per common share $ .68 $ (.02) ========== ========== -12-